I want to retire at….

[EUwannabe]

So I’m hoping to retire early (early 40s atm!). What age would you 1) like to retire 2) think you’ll be able to retire? Is 50 too early 🤣

I’m aiming for 60 unless my premium bonds come up!

When we set up our pensions we said we want to retire at 50, DH retired at 55 and i kept going until 58, we are both very very happy!

I've worked 3 days/week (WFH for myself) since my mid thirties. I was planning to retire at 50 but now I've reached that age realise I love my job too much to do so. At the moment, I feel like I have the perfect balance.

50 and 50.

55. I have special class status so can take a big chunk of my NHS pension without penalty and invested an inheritance several years ago with this sole aim. Four years to go.

I'm mid 40s and think I'd miss working too much to retire right now. Aiming for about 60, but will see how we are health wise.

I'm sure by the time I'm thinking of retirement there will be no state pension, or it'll be pittance so I'll be working indefinitely. I think gone are the days when people retire at 60, it'll be a work until you drop (or afford your own lifestyle)

I do feel for people in the generations below that will struggle for work because jobs are still being "hogged" by the older people that can't afford to retire.

I don't see myself retiring as such. I'll just decrease my hours/ work flexibly. I do private/ locum work, very flexible and mostly from home. My dh on the other hand does a very all or nothing job and he wants to retire in his mid- late 60's.

Depends what your plans are. My mum retired early (54 ish I think) and it really aged her IMO. She didn’t have enough to do and became quite obsessive about little, unimportant things which she previously would have taken completely in her stride. The difference between her and my dad who worked FT until 60 and PT until 66 is night and day. The same situation happened on my DH’s side of the family, a couple who both retired early 50s now seem like 80 year olds in outlook compared to ones who kept working and seem closer to middle age than elderly. I’m highly unlikely to be able to retire before 60 and my pension age is (currently) 68. Wouldn’t see me stopping in my 50s anyway if I’m still healthy though.

It also depends how you feel about your job/career. One of my direct reports at work is 61 and her DH is constantly nagging her to retire which I think financially they could do, but she doesn’t want to and says she loves her job so wants to keep doing it for the foreseeable future.

DH and I are aiming for 60 but don't intend to stop work completely until we absolutely have to!

At 58 we will have paid off the mortgage an DC will have left home (or be old enough to move out) so we plan to reduce our hours and cherry pick certain jobs although appreciate it helps that we are both self employed & enjoy what we do. My dad is 78 and still 'works' - not the crazy hours he used to in the but he has a couple of consultancy jobs a month, he sits on the board of a local charity and done some business investing/mentoring - he is very content and can see no reason to stop which I really admire.

Retirement sounds great if you've got oodles of money but if all you can afford to do is potter round the house I'd rather be at work!

My husband will go early at 55, he's a PE teacher, I'll go pt or to consultancy work I have a good pension and want to pay in as long as possible.

I am 58 and DH is 66, all our proverbial financial ducks in a row Thank God, and six figure sum on deposit, Dh retired in August, we are both finding the winter a bit boring, but are enjoying the slower pace of life.

My mum retired early (54 ish I think) and it really aged her IMO. She didn’t have enough to do and became quite obsessive about little, unimportant things which she previously would have taken completely in her stride. The difference between her and my dad who worked FT until 60 and PT until 66 is night and day. The same situation happened on my DH’s side of the family, a couple who both retired early 50s now seem like 80 year olds in outlook compared to ones who kept working and seem closer to middle age than elderly.

I agree with this. Unless you have something to fill the gap that is left (volunteering, a hobby job, a passion, further study, whatever....) early retirement can really age people.

Really?

Given the rampant ageism around, I doubt employers will be choosing 60+ yr olds over 30 yr olds.

I'd like to go between 58 and 60 and if everything stacks up financially then this is when I'll go. H thinks he'd like to go part time from about 53 then carry that on til around 62.

The mortgage should be paid off by the time I'm 52 so as long as we then get some more savings behind us (I'm already saving for it but contributions can increase without the mortgage) then this is what will happen.

We want some time to focus on potential grandchildren, travel etc

I'm 54 and retired last week 😃

@AreOttersJustWetCats I suppose I was more thinking of people working in well
Paid jobs that they enjoy, they will just remain employed until they can no longer work meaning that a newer qualified person can't access that job. I have no idea about the agism and recruitment so I can't comment on that.

@dexterslockedintheshedagain congrats! Have fun!

Do you really think this would come into effect? It would be a brave government who did this!!

Sorry I was trying to quote the poster who said they don't expect there to be a state pension when they retire.

I have no idea. Paid mortgage off but need to save save save for the next 10 years at least till I'm 60. I love my job and the company I work for (no stress). A lot of things could change though.

I'm certainly not dreaming of retirement any time soon.

This is what worries me about retirement - becoming set in your ways and losing that every day contact with a range of younger people. And I also don't want to end up being tied to childminding grandchildren. While I enjoy my job and they pay me, I'll keep working. I'd need to find something meaningful to do with the time so I may as well get paid for it. But I'd like to wind down to part-time. Can all change tomorrow, of course.

@Givenhud I think it was me who said it. I honestly don't know but nothing surprises me anymore about our government. Look at the NHS for example- I never thought people would have to wait days/ weeks to be seen by a dr.

Not sure, trying to pay off mortgage by 50 so we have options. Maybe part time work from 60. I am an NHS nurse and the date I can take my pension has steadily increased from 60 to 67 🤨. I am not pension savvy, so, will look at options once mortgage paid off although, I will have university aged kids by then.